Jio Platforms Sets October IPO Dates and Price Band to Raise Over Thirty Thousand Crore Rupees

Jio Platforms will open its initial public offering on 21 October and close it on 23 October 2026. The company set its price band at 1,065 to 1,119 rupees per share. The issue aims to raise around 30,213 crore rupees through a fresh issue of 27 crore shares. At the top end of the price band, Jio Platforms would reach a valuation of about 108.3 billion US dollars.

Use of Funds

Jio Platforms will use the raised funds mainly to repay or prepay loans at Reliance Jio Infocomm, with the rest going toward general corporate needs. Following this share sale, Reliance Industries expects its stake in Jio Platforms to drop from about 66.43 percent down to roughly 64.4 percent. However, Reliance Industries will keep majority control of the digital and telecom business. A 2,500 crore rupee reservation is reported for eligible Reliance Industries shareholders, though eligibility depends on record dates and official offer documents.

Analyst Views

Abhinav Tiwari from Bonanza noted that Jio serves over 53 crore subscribers and accounts for strong long-term growth in 5G, broadband, and artificial intelligence. Saurabh Jain from SMC Global Securities pointed out that Jio handles about 60 percent of India's wireless data traffic and posted a profit after tax of 30,491.1 crore rupees for fiscal year 2026. Jain added that Jio's IPO has a post-issue price-to-earnings multiple of 33.56 times at the upper price limit, which is close to Bharti Airtel's multiple of 35.28 times. Mohit Gulati from ITI Alternatives stated that investors do not need to choose just one, as holding both stocks remains an option for long-term portfolios.

Context

Initial public offerings allow private companies to raise money from the public by selling shares on stock exchanges for the first time. Large corporate groups often list subsidiary businesses to unlock separate value for their parent company shareholders. Investors evaluate these share sales by comparing company valuations, debt levels, and future growth potential against existing market competitors.